Last Updated: November 20, 2023, 09:39 IST
Sensex Today: The key benchmark indices drifted a wee bit decrease after beginning Monday’s buying and selling session on a quiet observe.
The S&P BSE Sensex was down 80-odd factors at 65,720, whereas the NSE Nifty50 was seen holding the 19,700-degree.
IT shares have been seen holding regular beneficial properties, HCL Technologies up over 1 per cent was the highest mover among the many Sensex 30. TCS and Infosys have been up 0.4 per cent every. That aside, NTPC, SBI, Tata Motors and (*100*) Mahindra have been the notable gianers.
On the opposite hand, Axis Bank was down practically 1 per cent. Larsen & Toubro, Mahindra & Mahindra, Asian Paints and Nestle have been the opposite distinguished losers, down over 0.5 per cent.
The broader indices, nonetheless, have been quoting with modest beneficial properties. The BSE MidCap index was up 0.3 per cent, whereas the SmallCap added 0.6 per cent.
Dr. V Okay Vijayakumar, Chief Investment Strategist at Geojit Financial Services, mentioned: “The ongoing rally in the mother market US triggered by declining bond yields makes the market construct slightly favourable for the continuation of the rally in India, too. Like in cricket, there will be occasional set backs, but it is the long-term trend that matters in the market. Clearly, this is a buy on the dips market. Retail investor exuberance is pushing up the broader market. Investors should not be blinded by the recency bias and chase small caps running away without fundamental support. In spite of recent underperformance, safety is now in large caps. Since FIIs turned buyers in the cash market on two days recently, they are unlikely to sell big and may again buy on favourable developments. There is momentum in large-cap IT stocks. The expectation that US will not tip into a sharp recession has improved the prospects for IT. Autos, telecom, capital goods and construction-related segments are likely to remain resilient. Banking stocks bouncing back is only a matter of time.”
